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Trump set to soften auto tariffs after industry pushback

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Trump's administration will alleviate some duties imposed on foreign parts in domestically manufactured cars and keep tariffs on cars made abroad from piling on top of other ones.
Former President Donald Trump is reportedly planning to soften his stance on imposing tariffs on imported vehicles, following significant pushback from the automotive industry and concerns about potential economic repercussions. Initially, Trump had proposed a 20% tariff on all imported cars, a move that was met with strong opposition from car manufacturers and trade groups who argued that such tariffs would increase costs for consumers and disrupt global supply chains. In response to the industry's concerns, Trump is now considering a more moderate approach, potentially reducing the tariff rate or applying it more selectively. This shift comes as Trump seeks to balance his protectionist trade policies with the need to maintain support from key economic sectors ahead of the upcoming election.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/news/politics/trump-set-to-soften-auto-tariffs-after-industry-pushback/ar-AA1DRNfj ]